Category Archives: fools ‘n frauds

Trump on Track for Largest Deficits in U.S. History.

At 77 % of gross domestic product (GDP), federal debt held by the public is now at its highest level since the end of World War II. The Congressional Budget Office in an extremely detailed report concludes that despite considerable uncertainty of long-term projections, debt as a percentage of GDP would probably be greater – likely, much greater – than it is today if current laws remained generally unchanged. Continue reading

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Life Sentences for Maruti Suzuki Workers

The contentious case in India’s notoriously biased courts backed up by violent police forces that favor ownership and the rich, stems from a violent incident at Maruti Suzuki on 18 July 2012 that resulted in the death of a manager. Continue reading

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Digital Media is Dirty, Rife with Kickbacks, Fraudulent Claims

Years – if not decades – of abuse by digital media online ads with fraudulent or inflated traffic claims and ambiguous view-ability standards about how the ads actually appear on screens, have caused national advertisers to demand changes. Continue reading

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Trump Lies – Healthcare Bill Boots 24m, Eventually Keeps 52m from Insurance Because of Tax Cuts for Favored Rich

Look at an analysis by the independent and widely respected Congressional Budget Office that was released his week, and promptly dismissed by Republicans as bogus. In the analysis, the highly respected, independent CBA says that 24 million people – mostly poor – will lose health service while giant, unimaginable tax cuts will go to the supper rich. Continue reading

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Volkswagen Pleads Guilty on Felony Charges in Dieselgate

Volkswagen AG will plead guilty to three criminal felony counts and pay a $2.8 billion criminal penalty because of the company’s long-running Dieselgate caper that sold ~590,000 diesel vehicles in the U.S. using a defeat device to cheat on emissions tests. Continue reading

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U.S. Court Grants $14.7 Billion Plea in VW Diesel Fraud Case. Criminal Charges, Fines, Stockholder Lawsuits Outstanding

U.S. District Judge Charles Breyer today approved a $14.7 billion partial Consent Decree plea deal between Volkswagen, the California Air Resources Board (CARB), the Environmental Protection Agency (EPA), the U.S. Department of Justice (US DOJ) and the U.S. Federal Trade … Continue reading

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More Flood Cars Back in Use – Buyer Beware

“Flood cars are a buyer’s worst nightmare,” said Larry Gamache, communications director at Carfax. Continue reading

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Long-Time Volkswagen Engineer Pleads Guilty to Criminal Charges for Rigging Tests on Dirty Diesels

In the latest setback for beleaguered Volkswagen in the thus far un-ending Dieselgate scandal, a long-time employee – James Robert Liang – pled in the U.S. Eastern District Court of Michigan to criminal charges over his role in rigging results for at least 11 million diesels, thereby defrauding regulators. Continue reading

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GM Recycles 2 Million Flint Water Bottles from Toxic Crisis

The Flint water crisis, of course, is a sordid chapter in the questionable record of the two-term Republican governor Rick Snyder. General Motors acted disgracefully as well, and was in the middle of it and participated in the coverup of the toxic water supply. Continue reading

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Judge Issues Initial OK of VW Dirty Diesel Settlement

Under the proposed settlement, eligible customers have two choices: (1) they can sell back their vehicle to Volkswagen or terminate their lease without an early termination penalty, or, (2) keep their vehicle and receive a free emissions modification, if approved. Continue reading

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Two Florida Men Guilty in Multi-State Biodiesel Fraud

The co-conspirators received at least $42 million from the sale of these RINs to third parties, and $4,360,724.50 in false tax credits for this fuel. Continue reading

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$14.7 Billion Volkswagen Diesel Fraud Settlements

The plea bargain requires Volkswagen to spend up to $10.03 billion to compensate consumers under the program. In addition, the VW will spend $4.7 billion to mitigate the pollution from these cars and invest in green vehicle technology. Continue reading

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Fiat Argentina Removes Owner Manuals that Insult Women

The booklet in Argentina given to every new vehicle owner said: “If a lady’s skirt is too short, we recommend that she travel in the backseat to keep our concentration.” It dug the hole deeper by saying “if the skirt is not that short but you tend to have a wandering hand, she should also travel behind.” Continue reading

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German Motor Transport Grants Fix on Dirty VW Diesels

Such an inexpensive fix is not possible in the U.S. where emissions standards are much tighter, and regulatory authorities – it could be argued across the EU – are not in the pocket of auto companies and major suppliers. Continue reading

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U.S. Treasury Issues Inversion Regulations. Is It Too Little, Too Late for Catching Corporate Tax Cheaters?

Under current law – obviously written by corporate lobbyists – following an inversion or foreign takeover, a U.S. subsidiary can issue its own debt to its foreign parent as a dividend distribution. The foreign parent can then transfer this debt to a low-tax foreign affiliate. The U.S. subsidiary can then deduct the resulting interest expense on its U.S. income tax return at a significantly higher tax rate than is paid on the interest received by the related foreign affiliate. Continue reading

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